Electronic Arts Inc. (NASDAQ:EA) Shares Purchased by Panagora Asset Management Inc.

Panagora Asset Management Inc. increased its position in shares of Electronic Arts Inc. (NASDAQ:EA) by 77.4% in the first quarter, HoldingsChannel reports. The firm owned 585,070 shares of the game software company’s stock after acquiring an additional 255,234 shares during the quarter. Panagora Asset Management Inc.’s holdings in Electronic Arts were worth $79,201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in EA. Public Investment Fund purchased a new position in Electronic Arts during the fourth quarter valued at approximately $1,065,538,000. BlackRock Inc. raised its position in Electronic Arts by 13.6% during the fourth quarter. BlackRock Inc. now owns 22,993,496 shares of the game software company’s stock valued at $3,301,866,000 after acquiring an additional 2,747,815 shares in the last quarter. Norges Bank purchased a new position in Electronic Arts during the fourth quarter valued at approximately $365,597,000. Alliancebernstein L.P. raised its position in Electronic Arts by 23.1% during the fourth quarter. Alliancebernstein L.P. now owns 11,314,902 shares of the game software company’s stock valued at $1,624,820,000 after acquiring an additional 2,125,286 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Electronic Arts by 9,575.0% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,774,401 shares of the game software company’s stock valued at $254,804,000 after acquiring an additional 1,756,061 shares in the last quarter. 88.18% of the stock is owned by hedge funds and other institutional investors.

NASDAQ EA opened at $145.96 on Friday. The stock’s fifty day moving average is $141.75. The firm has a market capitalization of $41.77 billion, a price-to-earnings ratio of 50.93, a P/E/G ratio of 4.45 and a beta of 0.89. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.43 and a quick ratio of 2.43. Electronic Arts Inc. has a fifty-two week low of $110.15 and a fifty-two week high of $150.30.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Monday, May 10th. The game software company reported $1.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.18. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.39 billion. Electronic Arts had a return on equity of 16.74% and a net margin of 14.87%. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. On average, equities research analysts predict that Electronic Arts Inc. will post 4.83 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 23rd. Shareholders of record on Wednesday, June 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Tuesday, June 1st. Electronic Arts’s dividend payout ratio (DPR) is currently 14.98%.

Several brokerages recently weighed in on EA. TheStreet cut Electronic Arts from a “b” rating to a “c+” rating in a research report on Tuesday, May 11th. BMO Capital Markets boosted their price objective on Electronic Arts from $143.00 to $150.00 and gave the company a “market perform” rating in a research report on Friday, May 14th. Credit Suisse Group cut their price objective on Electronic Arts from $167.00 to $165.00 and set an “outperform” rating for the company in a research report on Monday, May 17th. Jefferies Financial Group initiated coverage on Electronic Arts in a research report on Thursday, April 22nd. They issued a “buy” rating and a $165.00 price objective for the company. Finally, KeyCorp boosted their price objective on Electronic Arts from $165.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, April 22nd. Ten investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $157.81.

In other news, insider Vijayanthimala Singh sold 800 shares of the company’s stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $136.73, for a total value of $109,384.00. Following the transaction, the insider now owns 20,110 shares of the company’s stock, valued at approximately $2,749,640.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Laura Miele sold 785 shares of the company’s stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $142.92, for a total value of $112,192.20. Following the completion of the transaction, the insider now directly owns 36,032 shares in the company, valued at approximately $5,149,693.44. The disclosure for this sale can be found here. Insiders have sold 106,712 shares of company stock worth $15,206,135 in the last three months. 0.92% of the stock is currently owned by corporate insiders.

About Electronic Arts

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and Plants v.

Further Reading: Call Option

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Institutional Ownership by Quarter for Electronic Arts (NASDAQ:EA)

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